Citigroup Cuts Rapid7 (NASDAQ:RPD) Price Target to $46.00

Rapid7 (NASDAQ:RPD) had its target price reduced by Citigroup from $50.00 to $46.00 in a research report report published on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the technology company’s stock.

RPD has been the topic of a number of other research reports. Truist Financial dropped their price target on Rapid7 from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, November 7th. Piper Sandler cut their price target on shares of Rapid7 from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Jefferies Financial Group initiated coverage on shares of Rapid7 in a report on Wednesday, October 16th. They set a “buy” rating and a $50.00 price objective on the stock. StockNews.com upgraded Rapid7 from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Finally, UBS Group decreased their target price on Rapid7 from $59.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Fifteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Rapid7 presently has an average rating of “Hold” and a consensus price target of $43.71.

Rapid7 Price Performance

Rapid7 stock opened at $38.84 on Friday. The business’s fifty day moving average is $40.71 and its 200 day moving average is $39.07. Rapid7 has a one year low of $32.94 and a one year high of $61.88. The stock has a market capitalization of $2.46 billion, a PE ratio of 61.65 and a beta of 0.96.

Rapid7 (NASDAQ:RPD) last posted its quarterly earnings data on Wednesday, November 6th. The technology company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. Rapid7 had a negative return on equity of 128.95% and a net margin of 5.65%. The firm had revenue of $214.65 million for the quarter, compared to analysts’ expectations of $210.04 million. During the same period in the previous year, the firm earned $0.11 EPS. The business’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, sell-side analysts expect that Rapid7 will post 0.98 EPS for the current fiscal year.

Institutional Trading of Rapid7

Several large investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings in Rapid7 by 3,888.2% in the third quarter. International Assets Investment Management LLC now owns 678 shares of the technology company’s stock worth $27,000 after buying an additional 661 shares during the last quarter. Quest Partners LLC bought a new position in Rapid7 during the second quarter valued at about $35,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Rapid7 in the third quarter worth about $69,000. Point72 Hong Kong Ltd boosted its stake in shares of Rapid7 by 315.0% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,075 shares of the technology company’s stock worth $90,000 after acquiring an additional 1,575 shares in the last quarter. Finally, 1620 Investment Advisors Inc. increased its holdings in shares of Rapid7 by 14.5% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 2,783 shares of the technology company’s stock valued at $111,000 after acquiring an additional 352 shares during the last quarter. 95.66% of the stock is owned by institutional investors and hedge funds.

Rapid7 Company Profile

Rapid7, Inc provides cybersecurity solutions under the Rapid7, Nexpose, and Metasploit brand names. The company offers endpoint to cloud data collection and sharing applications, such as Rapid7 Insight Agent, a software-based agent that is used on assets across on-premises and cloud environments to centralize and monitor data on company's platform; Rapid7 Insight Network Sensor that analyzes raw end-to-end network traffic to increase visibility into user activity, pinpoint real threats, and investigations; Rapid7 Cloud Event Data Harvesting that offers visibility into changes made to cloud resources; and third-party integrations and ecosystem, as well as orchestration and automation solutions.